WHAT THE OTHER PAPERS SAY THIS MORNING

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<strong>FINANCIAL TIMES</strong><br /><br /><strong>DELANCEY EYES CINEMAS</strong><br />Delancey, the property fund backed by George Soros, is in exclusive talks to buy the UK property assets of National Amusements, the cinema chain owned by Sumner Redstone, the US media magnate. This is expected to be the first big acquisition for the fund.<br /><br /><strong>MYER&rsquo;S A$3BN IPO SET TO BE AUSTRALIA&rsquo;S BIGGEST IN TWO YEARS</strong><br />Australia&rsquo;s biggest initial public offering in more than two years is expected to be given the go-ahead today when Myer, the country&rsquo;s largest department store group, unveils plans for a likely November flotation that could raise up to A$3bn. Australia is the latest country in the region to demonstrate the rebound in IPO markets, which was underlined yesterday when Carsales.com, an Australian classifieds website that has raised A$146m, rose 14 per cent on its debut.<br /><br /><strong>HEATHROWSETSANEWPASSENGERRECORD</strong><br />Passenger traffic at Heathrow broke previous records during August as the UK&rsquo;s busiest airport benefited from a strong leisure market and its role as an international hub &ndash; but numbers continued to slide across the country as a whole. In August, Heathrow handled 6.4m passengers, 0.3 per cent more than in 2008, according to the operator BAA as travelers continued to fly despite the downturn. <br /><br /><strong>BANKER GUILTY OF INSIDER TRADING</strong><br />Hong Kong&rsquo;s market regulator secured its highest-profile conviction for insider trading yesterday with the prosecution of a former Morgan Stanley investment banker who helped win business from China&rsquo;s largest state-owned investment group.<br /><br /><strong>THE TIMES</strong><br /><br /><strong>DESIRE&rsquo;S PLANS TO TAP FALKLANDS WELLS FUEL OPTIMISM IN SOUTH ATLANTIC</strong><br />Hopes that the Falkland Islands could become a significant oil producer were boosted yesterday after Desire Petroleum, a British company, unveiled plans to launch a large drilling programme there next year. Desire said that it will drill up to eight offshore wells starting in February, marking the first time that any company has drilled for oil in the Falklands in more than a decade.<br /><br /><strong>FORMER LABOUR DEFENCE SECRETARY CONDEMNS PROCUREMENT &lsquo;MESS&rsquo;</strong><br />The Government&rsquo;s system for buying military equipment is a mess and tough choices must be made over what is really needed, a former Labour Defence Secretary said yesterday. He said many equipment programmes were not properly costed.<br /><br /><strong>The Daily Telegraph</strong><br /><br /><strong>ITV'S NEW CONTROLS</strong><br />ITV is to introduce a tougher &ldquo;double compliance&rdquo; process to ensure its television programmes by independent producers do not breach the broadcasting code set down by the media regulator. The news comes as communications watchdog Ofcom has toughened the financial penalties it can impose for breaches of the standards aimed at protecting viewers. <br /><br /><strong>BARACK OBAMA TELLS GORDON BROWN OF 'DISAPPOINTMENT' OVER LOCKERBIE RELEASE</strong><br />US President Barack Obama has expressed his &ldquo;disappointment&rdquo; at the decision to release the Lockerbie bomber during a 40-minute phone call with Gordon Brown, the White House has said. A statement from Mr Obama&rsquo;s press secretary said the decision to allow the return to Libya on had been discussed during a call.<br /><br /><strong>WALL STREET JOURNAL</strong><br /><br /><strong>HARVARD ENDOWMENT FELL 30 PER CENT</strong><br />Harvard University, disclosing investment returns that trailed well behind the performance of the average college, said its endowment over the last year shrank by 30 per cent, or $10.9bn. The dismal returns at Harvard and other wealthy schools in the year ended June 30 have exposed weaknesses in their exotic and--as it turns out--high-risk approach to investing. <br /><br /><strong>BLOOMBERG WEIGHS BID FOR BUSINESSWEEK</strong><br />Bloomberg is considering a bid for BusinessWeek magazine as the deadline for offers approaches, according to people familiar with the matter. Bloomberg&rsquo;s interest in BusinessWeek reflects the financial-information provider's continuing expansion beyond its core business.